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The CHFJPY attempts to exit the bullish track – Analysis – 11-10-20222
The CHFJPY suffered strong bearish pressures, affected by stochastic reach to 20 level to push it to form negative waves, to press on the minor bullish channel’s support near 145.80.
Providing negative trading below the mentioned support will increase the chances for moving to the bearish track, but we confirm that providing negative close below this support is important to avoid any positive rebound that might confirm any unexpected losses, then wait for recording the main targets near 144.80 and 143.75.
The expected trading range for today is between 146.00 and 144.80
The expected trend for today: Bearish
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Platinum price keeps declining– Analysis – 11-10-20222
Platinum price succeeded to reach below the moving average 55 at 905.00, to provide negative close that reinforce the suggested bearish bias and settle near 893.00, and stochastic reach to the oversold level will increase the efficiency of the bearish track that depends on the strength of the barrier that is located at 930.00.
Therefore, we will keep waiting for the price until forming new bullish waves to attempt to press on 875.00 level, achieving the required break might extend the losses towards 855.00 and 825.00 in the medium period.
The expected trading range for today is between 905.00 and 855.00
The expected trend for today: Bearish
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Copper price is slow– Analysis – 11-10-20222
Copper price provided slow trading recently to settle near 3.4000, reminding you that stochastic reach to 20 level by the stability of the moving average 55 above the barrier at 3.5500 for today supports the negative attempts in the current period, to keep waiting for resuming the decline until hitting the support at 3.2500, then wait for the next close to detect the expected targets from the upcoming trading.
The expected trading range for today is between 3.4600 and 3.2500
The expected trend for today: Bearish
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Wheat achieves strong gains – Analysis - 11-10-2022
Wheat price rallied upwards strongly yesterday to surpass our first target 923.50 and reach the second target at 947.50, as it found solid resistance there that forces the price to provide temporary negative trades, affected by stochastic negativity, waiting to get positive momentum that reinforces the chances of resuming the bullish wave to surpass the last level and open the way to achieve more gains that reach 972.80.
Therefore, the bullish trend scenario will remain valid for the upcoming period, noting that failing to surpass 947.50 will press on the price to decline towards 898.80 areas before any new attempt to rise.
The expected trading range for today is between 920.00 support and 960.00 resistance.
The expected trend for today: Bullish
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